In 2024, expands to several countries around the world, helping SMEs in emerging countries to develop their foreign trade activities
HONG KONG, January 5, 2024 /PRNewswire/ — XTransfer, world leader and China #1 Payment Platform for B2B Cross-Border Commerce, is pleased to announce the official launch of its international services. After the first launch of international services in Hong Kong in April last year, XTransfer is now actively expanding its business to more than 200 countries and regions around the world to serve local customers. Micro, small and medium enterprises (MSMEs) in cross-border trade.
Founded in 2017, XTransfer is dedicated to China domestic market for over six years and is committed to providing MSMEs with secure, compliant, fast, convenient and low-cost cross-border commercial payment solutions. With a customer base exceeding 400,000 businesses, XTransfer has not only achieved fintech unicorn status but also become the #1 platform in China industry. In mid-2023, the company entered that of Hong Kong market, serving local business enterprises by providing cross-border trade payments and other related financial services. Last month, the company debuted at the “VietBuild Home International Exhibition 2023” in Ho Chi Minh City meet local traders. In the future, the company will participate in more global trade fairs. Additionally, the company became one of the members of the World Economic Forum’s Unicorn Community at the end of the previous year.
Since the launch of the international service, the company has received numerous requests and feedback from Hong Kong, NigeriaAnd Vietnam markets and has already served more than 1,000 foreign trading companies. Currently, around thirty thousand companies are seeking advice for account opening services. In 2024, the company will be fully expanded to all regions of the world, including the UNITED STATES, Canada and the United Kingdom; South East Asiasuch as Vietnam And Thailand; South Asiasuch as Pakistan And Bangladesh; Africasuch as Nigeria, South Africa And Egypt; the United Arab Emirates in the Middle East; And Latin Americasuch as Brazil And Mexicoand many other countries and regions.
Bill Dengfounder and CEO of XTransfer, said: “The company will actively partner with licensed local financial institutions in different regions to provide innovative cross-border payment solutions to local MSMEs to help them expand their businesses globally. In addition to promoting and facilitating cross-border payments between different countries and Chinathe company also aims to build a global payment infrastructure to assist in the collection and payment of trade between two different countries and to assist in the export trade of MSMEs in emerging countries, thereby promoting the development of the manufacturing industry and the local economy.
Global MSMEs generally struggle to obtain robust financial services from traditional banks, which not only hinders their transactions with buyers in different countries, but also forces some businesses to use non-compliant channels, such as underground banks, for cross-border remittances, which entails significant capital risks. With a mission to help MSMEs around the world, trusted by international financial institutions such as JP Morgan Chase Bank, DBS Bank. and Deutsche Bank, enabling MSME customers to open accounts with internationally renowned financial institutions through the XTransfer platform.
XTransfer customers can benefit from a series of services such as convenient cross-border collection and payment, efficient foreign exchange operations and other services in a secure and compliant manner, allowing MSMEs to benefit from the same level of financial services cross-border companies than large multinational companies. When buyers and sellers use XTransfer accounts, they can get secure and compliant payment settlement 24/7, which is expected to save 95% of transfer fees and 20% of conversion costs. currencies, thereby enabling hassle-free flow of trade capital. The company aims to bring extreme convenience to global buyers and sellers through XTransfer’s unified platform, which can save up to 10% of trade costs across the chain!
As an innovative unicorn, XTransfer is dedicated to its mission of driving innovation to improve financial inclusion for MSMEs around the world. XTransfer also supports MSMEs with generative AI tools to improve their competitiveness and business growth and reduce potential inequalities.
– END –
About XTransfer
XTransfer, world leader and China #1 cross-border B2B commercial payment platform, is dedicated to providing SMEs with secure, compliant, fast, convenient and low-cost payment and fundraising solutions for foreign trade, significantly reducing the cost of global expansion and improving global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in China major foreign trade cities such as Hong Kong, ShenzhenTHE United Kingdom, United States, Canada, Japan, AustraliaAnd Singapore. XTransfer has obtained local payment licenses in Hong KongTHE United Kingdom, United States, CanadaAnd Australia. With more than 400,000 business customers, XTransfer has become the number 1 in the sector in China.
By cooperating with renowned multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and built a data-driven, automated, Internet-based and intelligent money laundering risk control infrastructure, focused on small and medium-sized businesses. . XTransfer uses technology as a bridge to connect large financial institutions and small and medium-sized businesses around the world, enabling small and medium-sized businesses to benefit from the same level of cross-border financial services as large multinational corporations.
XTransfer completed its Series D financing in September 2021and the current valuation of the company exceeds 1.3 billion US dollars, which makes it a unicorn. The company has a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.
For more information: https://www.xtransfer.cn/ And https://www.xtransfer.com/
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/xtransfer-announces-global-launch-of-international-services-302027055.html
SOURCE XTransfer
